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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.

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AVERAGE FACTOR COST CURVE

A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.

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[What's This?]

Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?

In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"He who has a „why¾ to live can bear with almost any „how.""

-- Friedrich Nietzsche, Philosopher

M3
M2 plus investment types of near monies, including large denomination certificates of deposits, institutional money market deposits, and longer term repurchase agreements and Eurodollars
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